Gold prices remained under slight pressure in early trade on Tuesday, following a strong 2% gain last week, raising questions about whether this is a good time for investors to buy the yellow metal.
Gold Price Today
Gold Price Today (May 27): On the Multi Commodity Exchange (MCX), gold futures for June 5 delivery were trading 0.08% higher at ₹96,018 per 10 grams around 9:10 AM. This comes after gold settled lower by 0.73% on Monday, closing at ₹95,721 per 10 grams.
The gold price today reflects global sentiment as a weaker US dollar and diminishing fears of a trade war have driven consolidation in the precious metal. Although geopolitical tensions have cooled slightly, the mounting U.S. fiscal deficit following recent tax cuts continues to pressure the dollar, indirectly supporting gold prices.
Last week, MCX gold rates gained around 2%, boosted by safe-haven demand and concerns about a potential U.S. debt crisis. However, recent developments including President Trump’s delay in imposing a 50% tariff on European imports have eased some market anxiety, leading to profit booking in the gold market.
Market Insight:
Manav Modi, Senior Analyst at Motilal Oswal Financial Services, noted, “Gold began the week steady due to holidays in U.S. and U.K. markets. But early trades saw a slight dip as the focus shifts to U.S. durable goods data and consumer confidence figures. Mixed trade signals and ongoing global instability still offer long-term support for gold.”
According to Aksha Kamboj, Vice President of the India Bullion and Jewellers Association, “Although short-term momentum seems limited, long-term fundamentals such as U.S. fiscal concerns, unresolved tariff negotiations, and Middle East tensions make gold an attractive hedge. Any further dips could be a strategic buying opportunity.”
Jateen Trivedi of LKP Securities adds that volatility will persist, with gold expected to trade in a range of ₹94,500 to ₹96,750. He advises investors to closely track currency movements and trade developments for near-term trends.